I am trying to figure out some categories to encompass some sort of money transfers / transactions but my banking "expertise" is falling short.
Ok what I am trying to group are the things below:
- Credit Card Refunds
- Debit Card Refunds
- Wire transfers
- Bank Transfers
I kinda disagree with Wikipedia https://en.wikipedia.org/wiki/Wire_transfer put on the same line: Wire transfer, bank transfer and credit transfer.
A bank transfer can also be an ACH which clearly different from a Wire Transfer. But it is true that a Wire transfer is also a Bank Transfer. About a Credit Transfer, not that I want to be nitpicking here but to me, it's yet another different thing (especially depending on the context).
From an OO inheritance perspective I'd then say:
Wire Transfers -> Bank Transfers
ACHs -> Bank Transfers
Now when it comes to bank card refunds, I am a bit more skeptical, I would say "yeah, of course they are like Bank Transfers" obviously but not really Wire Transfers per say. On one hand, they are electronic, that's for sure, but on the other, the Bank Account Details are usually required for a Wire Transfer (ie. IBAN + SWIFT/BIC code + Owner's name).
Credit Card -> Bank Card
Debit Card -> Bank Card
Credit Card Refunds -> Bank Card Refunds
Debit Card Refunds -> Bank Card Refunds
Bank Card Refunds -> ???
and generally-speaking I am not too sure if I can consider the purchases made with a bank card (regardless of is actual type) can be seen as Wire Transfers since business don't really have the actual bank account details of their customers.
Anyway would be super appreciated if someone could shed the lights on the Bank Card Refunds and whether they can be considered as some sort of Wire Transfers.
Alright, the reason about why I am looking for categories, is that I am currently working on a piece of software that performs refunding + compensations (in the sense of Goodwill Gestures) by Wire Transfers (SEPA + International) as well as refunding purchases made with bank cards.
I was looking for a name to encompass the whole piece of software and its sub-components.
Refunds is not accurate in the sense that for some legacy reasons, it also process Goodwill gestures which are supposedly different from refunds.
Long story short:
- Wire Transfers for goodwill gestures + refunds that cannot be processed by card
- Bank Card refunds
About the whole thing, except maybe something like "Money Transfers" or "Transactions".
- Money Transfers / Transactions:
- Wire Transfers:
- Goodwill Gestures
- Bank Cards:
- Wire Transfers:
Not sure if this kind of structure makes any sense though.